Detroit bankruptcy hearing – Day 7

It is a real hand-to-hand fight in Detroit as creditors seek to establish that emergency manager Kevyn Orr did not conduct “good faith” negotiations prior to filing Chapter 9 bankruptcy for the city. It’s surprising that the city is not arguing that there were too many creditors to negotiate. The bankruptcy code allows a debtor to use this provision to escape conducting negotiations. Here are tweets from Tuesday:

It’s 9 a.m. exactly and Rhodes is on the bench. We’re underway in Day 7 of the Detroit bankruptcy trial.